-DECISION NOT TO DECLARE A SECOND SEMI-ANNUAL DIVIDEND IN 2023-

TORONTO, Oct. 30, 2023 /CNW/ - Geodrill Limited ("Geodrill" or the "Company") (TSX: GEO), is pre-announcing certain items impacting the Company's quarterly earnings, earnings before interest, taxes, depreciation and amortization ("EBITDA")¹, and earnings per share and the decision not to declare a second semi-annual dividend in 2023.  All figures are reported in U.S. dollars ($), unless otherwise indicated.